Niche Marketing in Advertising
Hi Sorooshsima Podcast listeners, we are gonna present an educational podcast today. You may have heard the idiom, “niche marketing”. You should know niche marketing which is also called the same in the market in Iran, is a small part of marketing that focuses on a special part of the market. This part of marketing is for small business that want to introduce their products at an economical price and compete with the big guys.
Sometimes, newcomers use niche marketing to enter the marketing arena. But sometime, high-income corporations are also looking for niche marketing.
If we want to look more closely, niche marketing means corner marketing, meaning that the activities of the market are focused on a small segment and in the market that is hidden from competitors or is not cost effective for them. In reality, there is no niche marketing, but its marketers create the niche based on the customers’ demands that are not met by marketing.
It should be noted that niche market could become a normal market in the future.
Target market in niche is based on the special needs of customers, their demands, price and products.
In niche marketing, in order to start your business, you don’t need to consider the entire market, but you success should be targeting a small part of the market.
Niche marketing approach is the one that by downsizing the market, makes its brand known and sell his product. The customer prefers to go to store to buy a product that only sells the product he/she is looking for, not a store that sells everything in addition to what they are looking for.
For example, right now Digi-Kala is a large and successful online store that stores almost everything and most people do their shopping there. But in order to buy a cellphone parts or a laptop, it cannot meet the customers’ needs well and to buy them (the parts I mean) the customer prefer to go to online stores that offer only those specialized parts, so he/she could get the part he needs, he could also get some professional advice on the parts.
- Mouth to Mouth marketing
This way, niche marketers are trying to get the customers to discuss a product and get them familiar with it.
- Earn Credibility and Credit
This way, niche tries to introduce the product with the help of influential people and their support. This method is very popular in today’s marketplace, and is actually a kind of marketing influencer that uses bidders rather than popular and famous people.
- Parallel endorsement
This niche method, you product will be exposed to your customers through video tutorials, billboards and …..
Presentive or thematic niche marketing
Thematic or presentive niche marketing is based on the needs so the customers provide the product from a store themselves so they benefit from specialized support and service, launching these stores also requires less capital, better profit margins and less risk and his its own specialized customers, while in the preventive niche market, SEO and site optimization is greatly increased.
Geographical niche market
Niche marketing based on geographical area is another method, such as startup services of online food ordering like Snap Food. Of course, one of the disadvantages of geographical niche marketing is large cities, if you want to use this type of marketing for a product, it is better to meet the needs of a particular community.
Product niche marketing
This type of niche marketing is sufficient only when you present a product in a highly competitive market, but with unique features, such as designing traditional girl mantos.
Niche marketing based on age and sex
In this type, g after a group that other competitors are not paying attention to their needs, the elderly and children are often good options for niche marketing and again in this line, you can tighten the circle of customers, for example, production of summer medical shoes for pregnant women.
Niche marketing based on price
Even large corporations produce low-cost products for middle-class income people, but many people think these products are brand and expensive and don’t get too close to them, so by producing inexpensive or expensive products, you can have your own target community.
Niche Market Customers
Niche customers are a small group of people that are classified based on their income, age, and geographical location and … for example those who have recently bought a house and are looking to change the design and modernize their house.
Planning for Niche Marketing
The following facts should be considered for the proper operation of a complete and accurate marketing niche.
1. Uniqueness of the product
To have a position in niche marketing, you product has to be unique, special and specific and has not been presented in another market.
2. Product Acceptability
Being special is not enough. You should consider the customers’ demands. But keep in mind that you have a cornerstone market and don’t need public demand.
3. Capabilities of a Niche Market
You need to consider what your Niche market is currently offering and whether it has the ability and capacity to address and handle your product?
4. The power of marketing
Don’t ever overlook the power of marketing. Without it your business has no meaning and will never make any sense.
5. Testing a product in the market
To keep track of the effectiveness of its introduction, Test your product every once in a while in the market.